OVER THE last two decades, numerous books, articles and press commentaries have hailed India as the next global power. This flush of enthusiasm results partly from the marked acceleration in India’s economic growth rate following reforms initiated in 1991. India’s gross domestic product (GDP) grew at 6 percent per year for most of the 1990s, 5.5 percent from 1998 to 2002, and soared to nearly 9 percent from 2003 to 2007, before settling at an average of 6.5 percent until 2012.